Deputy Governor Prof. Nuwagaba assumes office following Museveni’s Clearance
The newly appointed Deputy Governor of the Bank of Uganda, Prof. Augustus Nuwagaba, has assumed office following President Yoweri Museveni’s clearance. Nuwagaba assumed office on Monday following his appointment and subsequent vetting. A source said several groups of people petitioned president Yoweri Museveni over his qualifications. They claimed that the
Ecobank Group expands its gender-financing offer to facilitate access to financing for Africa’s women entrepreneurs
To bridge the gender financing gap for Africa’s women entrepreneurs, Ecobank announced significant enhancements to its multi-award-winning gender-financing solution – ‘Ellevate by Ecobank’. These improvements strengthen Ecobank’s commitment to women-owned, women-led, and women-focused businesses, while reinforcing its market competitiveness. The World Bank estimates that closing the gender gap in Africa
KFC celebrates inspirational African women accelerating action towards equality
Progress in closing the gender gap in South Africa and Sub-Saharan Africa has almost halted, leaving millions of women at a disadvantage to men. But female role models across the continent are refusing to admit defeat, dedicating themselves to accelerating progress towards gender equality. To mark International Women’s Day on
Uganda losses over Shs 70 billion annually in commitment fees- Auditor General
Uganda has been paying more than Shs 70 billion annually in commitment fees on loans over the past six years, according to the newly released Auditor General’s report. A commitment fee is a charge imposed by lenders on unused credit lines or un-disbursed loans. The report reveals that over the
dfcu Bank Appoints Hope Lorna Nakhayenze as Chief Risk Officer
dfcu Bank has announced the appointment of Hope Lorna Nakhayenze as its new Chief Risk Officer, effective March 1, 2025, as part of efforts to strengthen its risk management framework amid industry-wide reforms. In her new role, Nakhayenze will oversee risk management under the direction of the Board Risk Committee,
MTN Uganda advances digitalization agenda with computer lab donation to Revival Girls High School
MTN Uganda, through its MTN Foundation, continues to drive digital transformation in education with the donation of a fully equipped computer lab to Revival Girls High School. This initiative, part of MTN’s Digital Access Program worth Shs 1 billion investment, aligns with Uganda’s Vision 2040, the country’s Digital Transformation Roadmap,
BoU Fraudulent Payment: Court Releases Accountant General, Five Others
High Court has released Accountant General Lawrence Ssemakula and five others implicated in the fraudulent payment of Shs 60 billion by the Bank of Uganda. Ssemakula was released alongside Commissioner of Treasury Services Jennifer Muhuruzi, as well as Judith Ashaba, Dorothy Kusiima, Betinah Nayebare, and Nkakubo Lumala. Appearing before Justice
Afreximbank and Kenyan government ink milestone agreements to promote industrialisation
African Export-Import Bank (Afreximbank), Africa’s foremost trade development Bank, today in Mombasa, Kenya, ratified a series of initiatives designed to support Kenya’s industrialisation and export-led development agenda. Under the terms of the initiatives, formalised at a signing ceremony with the Kenyan authorities, Afreximbank will finance the development and operationalisation of
Royco Champions Generosity with Nationwide Ramadan Meal Initiative
Unilever Uganda has launched the ‘Share Goodness’ campaign, a heartfelt initiative dedicated to enhancing the Ramadan dining experience for Muslim communities across Uganda. This initiative is rooted in the spirit of generosity and nourishment, ensuring that families and communities come together to enjoy memorable Iftar meals during this sacred
IMF calls for review of Uganda’s anti-money laundering and financing of terrorism frameworks
The International Monetary Fund (IMF) has called for a review of the legal ambiguities and deficiencies within Uganda’s Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) framework. The IMF said barely a year after the delisting of Uganda off the Financial Action Task Force’s (FATF) Grey List. In February
